Colombia: Exports contract at steepest rate on record in September
November 5, 2015
In September, exports shrank 43.4% over the same month last year, coming in below August’s 41.6% drop and marking a new multi-year low. According to the National Statistical Office (DANE), a sizeable drop in exports of petroleum and oil derivatives as well as a drop in mining product exports were mainly behind September’s contraction.
Imports declined 9.2% in August (the most recent month for which data are available), which was above July’s 18.3% contraction. The trade balance recorded a USD 1.4 billion deficit in August, which was a significant deterioration from the USD 143 million surplus recorded in the same month of the previous year.
Author: Eric Denis , Economist